Amara Raja Batteries Falls For Second Straight Session, Plunges 7% In Two Days

Amara Raja Batteries March quarter profit rose 38 per cent to Rs 189.38 crore. Its revenue from operations advanced 33 per cent to Rs 2,103 crore.

Shares of popular battery maker - Amara Raja Batteries - fell for second straight session on Tuesday on the back of heavy trading volumes. The stock has declined as much as 6.95 per cent, in the last two trading sessions, to hit an intraday low of Rs 736.65 on the BSE. Media reports suggested that Clarios, the global energy storage solutions company, was selling 1.71 crore shares of Amara Raja Batteries for an aggregate of $174 million. The floor price was reportedly fixed at Rs 746 per share. Clarios ARBL Holding LP had over 4 crore shares or 24 per cent stake in Amara Raja Batteries as on March 2021, data from BSE showed. As many as 45.23 lakh shares changed hands on the BSE compared with an average of 1.32 lakh shares traded daily in the past two weeks. On the National Stock Exchange, as many as 3.22 crore shares were traded till 11:05 am, data from stock exchanges showed. Amara Raja Batteries is the leading car battery maker of the country and owns popular auto battery brand Amaron.